Australia Superannuation Industry (Supervision) Act 1993 (Cth)
Trustee and director covenants – Australia Superannuation Industry (Supervision) Act 1993 (Cth)

Australia Superannuation Industry (Supervision) Act 1993 (Cth) s52-2d: s 52(2)(d), (4) Priority of beneficiaries' interests in a conflict, overriding Corporations Act and PGPA officer duties

When the trustee's duties or interests toward beneficiaries clash with its duties or interests toward anyone else (including the trustee itself or an associate), the trustee gives priority to beneficiaries, ensures their duties are met and their interests are not adversely affected despite the conflict, and complies with the prudential standards on conflicts (s 52(2)(d)). This duty comes first, ahead of any clashing obligation an executive officer or staff member of the trustee owes under the Corporations Act's officer-duties chapter or the equivalent official-duties rules in Commonwealth governance legislation (s 52(4)).

Maintained by Gerard Blokdyk

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